The deal has valued the Californian insurance technology company at about $5 billion. The MSCI World Insurance Index is down about 6% this year. Latest general insurance News and Updates, Special Reports, Videos & Photos of general insurance on The Hindu BusinessLine. Get latest News Information, Articles on Insurance Companies Merger Updated on February 06, 2021 23:38 with exclusive Pictures, photos & videos on Insurance Companies Merger … RSA was down about 19% for the year before news of the takeover talks sent the shares soaring by 46% in a single day. General Insurance: While there is unanimity on the benefits of consolidation of PSU insurance companies, experts are divided over the route to be adopted for this purpose. Latest; Latest news; Insurance merger to create India’s third largest general insurer ... “The merger of Bharti AXA General Insurance with ICICI Lombard General Insurance is an outgrowth of efforts for bringing greater business synergies and enhancing value-creation for all stakeholders. Hippo Enterprises first launched in 2015. The government had appointed E&Y as a consultant to see through the completion of the merger process. Athene, an insurance company now valued at $10 billion, has become one of Apollo's largest sources of investment capital, supplementing the billions of … Moving forward on 2021 insurance M&A opportunities. According to sources, after examination of all equations for the merger, including merging them with New India Assurance, EY suggested merger of the three firms as the most viable option. The three insurers, under the aegis of GIPSA (General Insurance Public Sector Association), appointed EY last month to draw a blueprint for the merger plan. Conditions are aligning for a positive insurance M&A environment in 2021. The government is planning to expedite the merger of three public sector general insurance companies – National Insurance Company, Oriental Insurance Company and United India Insurance Company. As on March 31, 2019, the solvency ratio of National Insurance Co was 1.04 and for Oriental Insurance Co it was 1.57, while solvency ratio for United India Insurance… The Hippo insuretech sells homeowners insurance directly to consumers, promising fast quotes in a minute or less and the ability to purchase a … Articles on general insurance, Complete Coverage on general insurance The consolidation in the public sector general insurance companies is part of disinvestment strategy of the government. The merger of the three general insurance companies—National Insurance Company (NIC), United India Insurance and Oriental Insurance Company—is likely to be complete by early next year. Once the merger is complete, the government will go for a dilution of its stake in the broader entity.